Bank Act (S.C. 1991, c. 46)

Marginal note:Information box

• 627.57 (1) If an institution is required under this Division to disclose information in an application form or before entering into an agreement in respect of a product or service, it shall, at the time of that disclosure, disclose the information that is prescribed by presenting it prominently in a single prominently displayed information box.

• Marginal note:Information box — disclosure by telephone

  (2) An institution shall orally draw attention to the information that is required to be disclosed in the information box when

  • (a) the institution solicits applications for the product or service from a person orally by telephone; or

  • (b) a person contacts the institution orally by telephone for the purpose of applying for the product or service.